that's a tough call...it might be, but it might not be. It looks like it might be a die defect, as there seems to be a line to the left and the dot is actually stretched out a bit, rather than completely circular.
For an example of a die defect or perhaps corrosion, your coin has another "dot" on the reverse that I highlighted. Not very large, but if it was in the left or right field, it might be confusing.